After three years, iPads make money for Apple again

Apple released its third-quarter financials today, reporting higher-than-expected numbers almost all-around. The company’s total revenue reached $45.4 billion (£34.4 billion), up seven percent year-over-year. Earlier this afternoon, Apple shares increased five percent to hit above $157 per share, with an intraday high of $156.56. As of writing this article, shares are at $150.05.

While iPhone sales have increased slightly year-over-year, the most interesting numbers are for iPad. For the first time in three years, iPad sales grew: the company sold 11.4 million iPads this quarter, gleaning $4.9 billion in revenue. That represents a 15-percent unit increase year-over-year and a two-percent revenue increase year-over-year. The growth is reportedly being attributed to strong educational and business sales, as school districts buy iPads in bulk for their students and faculty to use.

Apple released the 10.5-inch iPad Pro in June, so only a portion of those sales contribute to that number. But the Pro models and the £340 iPad apparently offered the right options to the right consumers this quarter.